Pre-purchase counseling helps prevent delinquency, study finds

Buyers who went through counseling before purchasing their homes were nearly one-third less likely to miss payments within the first two years of homeownership than those who did not receive counseling, according to a study by the NeighborWorks America community development agency. However, David Stevens, Mortgage Bankers Association CEO and a former Federal Housing Administration commissioner, cautions that all counseling is not equal. "The one thing we have yet to see is what's the model that works," he said.

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